• IMF Research Bulletin

International Monetary Fund
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  • Trade Finance and Its Role in the Great Trade Collapse

    The Great Recession stimulated research on many issues that had been overlooked previously in the profession. Trade finance is one of the best examples of these issues. Although trade finance has served as the primary driver of international transactions for centuries, it received its due attention ...

  • Leaning Against Windy Bank Lending

    In recent times credit booms and busts have dramatically affected business cycle fluctuations. This has called for a deeper understanding of credit market conditions and the role of central banks in ensuring financial stability. We examine whether, during the Great Moderation, interestrate policy...

  • Q&A: Seven Questions about the Relationship between Country Finance and Governance

    Economists have studied the relationship between the quality of institutions and growth extensively (North 1990). In contrast, the relationship between the quality of institutions and financial flows has been studied less. Because low-income countries depend heavily on external financing flows and...

  • Q&A: Seven Questions on Financial Interconnectedness
  • IMF Working Papers
  • Housing Strikes Back: Remaining Attuned to Risks

    It’s déjà vu all over again! House prices are going through the roof in major cities across the globe, reviving memories of the US boom that ended in a global financial meltdown.1 They are also raising concern about affordability, with millennials increasingly priced out and at risk of turning into ...

  • IMF Working Papers
  • Dismal Employment Growth in EU Countries: The Role of Corporate Balance Sheet Repair and Dual Labor Markets

    Large differences among European Union countries in postcrisis employment growth to a large extent were driven by the need to adjust corporate balance sheets, which had greatly deteriorated during the boom years in some countries but not in others. To close the large gaps between saving and...

  • Q&A: Seven Questions on Fintech

    The IMF recently published a paper on the potential effects of fintech on the financial sector and how regulation should adapt: "Fintech and Financial Services: Initial Considerations," co-authored by Dong He, Ross Leckow, Vikram Haksar, Tommaso Mancini-Griffoli, Nigel Jenkinson, Mikari...

  • Adieu to Maury

    Maurice (Maury) Obstfeld, our chief economist and RES Director, is retiring at the end of the year after more than three years on the job. His time here has been marked by many achievements, of which this short column can only elucidate a couple, while conveying some of the more personal and...